When the Continental Congress issued currency to finance the Revolutionary War, the Continental Congress:
A. tied the value of the "continental" to gold.
B. made "continentals" legal tender.
C. issued too many "continentals," eventually making the currency worthless.
D. tied the value of the "continental" to gold to French "assignats."
Answer: C
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The short-run Phillips curve shows ________ between the unemployment rate and the inflation rate, and the long-run Phillips curve shows ________ between the unemployment rate and the inflation rate
A) a positive relationship; a negative relationship B) a negative relationship; a positive relationship C) no relationship; a negative relationship D) a negative relationship; no relationship E) no relationship; no relationship
An offer is the right but not the obligation to buy or sell foreign currency.
a. true b. false
wars and natural disasters are referred as _______ shocks
Fill in the blank(s) with the appropriate word(s).
The highest tariff rates of the twentieth century in the United States arose as a result of which law?
A) the Robinson-Patman Act B) the Tariff of Abominations Act C) the Wheeler-Lea Act D) the Smoot-Hawley Act